Silk Road Economic Belt
Silk Road or Route has been a network of transmission of trade, culture, ideas, that linked the east and west part of the world through countries of Central Asia. The term Silk majorly came from the fact that Silk from china was traded through this route but trade through Central Asian countries has been monumental reason in the development of civilisations in China, Indian subcontinent, Europe, Arabia. Political, cultural, Philosophical and other sorts of communication between Asia and Europe through Silk Road has been there for centuries.
Silk Road today is no more just a road for silk trade. It is being proposed by China as a network that connects China to Europe for trade, technology, idea and cultural sharing. Central Asian Countries have emerged as a route through which China wants to connect its western part which is less developed as compared to its eastern part to European countries for opening up trade, technology, ideas and other things. Central Asia is of big interest for Russia, China and America too.
Central Asia which was once a hub of Silk Road, if Silk Road Economic belt happens would again be so.But there are political challenges to this new Silk Road economic belt. Both Russia and America for their supremacy reasons have and continue to control the Central Asian regions. Although the Central Asian countries are rich in minerals still they are underdeveloped. So in this sense New silk road economic belt can open opportunity for developing these countries too. But because The Silk Road Economic Belt involves scores of countries and regions in Eurasia, which, due to disparate social systems, cultures and beliefs, have their own choices with respect to their development strategy, development mode and policies and thus the endeavour to establish a Silk Road Economic Belt will encounter various barriers and frictions.
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